Peabody Energy targeting FY13 capital spending $450M-$550M Company says this is approximately 50% below FY12 levels, as it is deferring early-stage growth projects. Company said Q1 capital spend approximately 70% below prior-year levels. Guidance given in slides ahead of presentation to be made at Bank of America-Merrill Lynch 2013 Global Metals and Mining Conference.
Arch Coal upgraded to Neutral from Sell at Goldman Goldman transferred coverage on Arch Coal with a Neutral rating from a Sell rating. The firm cites valuation for its Neutral rating. Price target lowered to $5 from $5.50.